Requires public charter schools’ enrollment composition of “underserved students” to be proportionally at least 80% of that in the school district in which the charter schools are located (Sec. 4).

Defines “underserved student” as a student who has an “economic or academic disadvantage” including, but not limited to, the following circumstances (Sec. 3):

The student is a member of an economically disadvantaged family;

The student has special education needs;

The student is limited in English proficiency; or

The student does not meet minimum academic proficiency standards.

Requires public charter schools to create performance guidelines within their contract including, but not limited to (Sec. 7):

Student academic proficiency and growth;

Attendance;

Postsecondary readiness for high schools; and

Financial performance and sustainability.

Requires public charter schools’ contracts to be revoked if the charter schools are rated “F” for 3 consecutive years, unless the charter schools demonstrate “exceptional circumstances” as determined by the authorizing board (Sec. 7).

Exempts at most 25 percent of teachers in a public charter school from being state certified when the initial charter application is approved and requires such teachers to have completed an alternative teacher certification within 3 years of the date of application approval (Sec. 8).

Requires the State Department of Education to pay the public charter schools an amount for each student equal to the share the department would pay the school district in which the student resides (Sec. 9).